Domestic prices for steel heavy plate remained broadly stable in European markets, while trading activity was slow during the summer slowdown period, also stabilizing Italian slab import prices, sources told Fastmarkets on Thursday August 13.
Italy
Sources indicated workable prices for base-grade plate at €690-700 ($797-809) per tonne ex-works in Italy on August 13, on the same level as the latest deals heard a week earlier. They also confirmed the offer reported by a supplier at €720 per tonne ex-works on August 6, but it was considered unworkable.
Market participants have said that the levels at €690-700 per tonne ex-works were a potential price floor in the market, linked to the traditional summer slowdown in August.
Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Southern Europe was €690-700 per tonne on Thursday, narrowing downward by €10 per tonne from €690-710 per tonne a week earlier.
Meanwhile, the latest offers for steel slab imports into Italy were reported in the range of $545-565 per tonne CIF on August 13 for material originating from Southeast Asia, while Chinese mills were quoting slab at $560 per tonne CIF.
One trader said Indonesian slab might be even a few dollars cheaper than $545 per tonne CIF, but did not report any achieved transactions at lower levels.
A buyer source said there were “no real changes” in slab prices over the week, while most Italian mills were out of the market for the August holiday period. “A couple of Chinese offers were renewed around $560 [per tonne CIF] but no deals or real changes [were done],” the same source added.
As a result, Fastmarkets’ weekly price assessment for steel slab import, cif Italy was $545-560 per tonne on Thursday, unchanged week on week.
Northern Europe
No significant market activity was seen in the domestic plate market in Northern Europe during the week.
Market participants continued to cite tight supply from integrated German plate producers, linked to a previous price increase in the market, but no fresh transactions were heard to support the sharp rise in prices.
Offers for base material were reported at €850-880 per tonne ex-works, while workable prices were indicated at €820-850 per tonne ex-works, all unchanged from a week earlier.
Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Northern Europe was €820-850 per tonne on Thursday, stable week on week.
